India, Sept. 16 -- The country's merchandise exports surged 26.12 per cent to $43.81 billion in August, driven by a jump in petroleum product shipments, while a dip in gold imports helped narrow the trade deficit to a five-month low of $26.86 billion.

Imports rose by 14.1 per cent year-on-year to $70.76 billion in August.

Brent crude oil prices ranged between $90 and $94 per barrel during the last month.

The growth in exports in August was the highest since June 2022, when shipments had risen 30.12 per cent.

During April-August this fiscal, exports jumped 17.85 per cent year-on-year to $215.91 billion, and imports climbed 18.21 per cent to $363 billion. The merchandise trade deficit during the first five months of this fiscal widened ...